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Metro East Sun

Monday, December 23, 2024

Analysis: Granite City pays $3.28 for every $1 pensioners contribute to Granite City Police Pension Fund

Budget 11

Taxpayers contributed 76.6 percent of the $1,725,199 the Granite City Police Pension Fund brought in last year, or $3.28 for every $1 from pension members, according to a Metro East Sun analysis of the latest data reported to the Illinois Department of Insurance Pension Division.

In all, Granite City contributed $1,322,316 to the fund, which saw a $63,542 increase in revenue over 2015. Members contributed $402,882, or 23.4 percent, in 2016. Another $1 came from other unspecified sources.

Granite City Police Pension Fund revenue over 5 years
20122013201420152016Change 2012-2016
Municipality$1,430,381$1,004,449$1,059,167$1,241,955$1,322,316-7.6%
Pension members$384,317$393,211$388,828$419,702$402,8824.8%
Other Revenue$69$0$18$0$1-98.6%
Total$1,814,767$1,397,660$1,448,013$1,661,657$1,725,199-4.9%

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